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Consternation Continues September 25, 2015

Posted by Tom in Thoughts.
Tags: , ,

This post will be a rather short one, because not much has really changed.  We’re still in that trading range and volume does not appear to be supporting any Signs Of Strength to break out of this range.


I draw your attention to Market Sentiment dropping down to Bearish and Distribution Volume (red line) picking up / overtaking previous Accumulation Volume peaks.  Not a very positive outlook right now.  Overall trading volume is average and this back & forth seems to just be dragging on & on.

Not much of a trend in sector strength, though oil refiners might (just might) be worth monitoring next week.  It just seems like this market is waiting of October, and with it, some 3rd quarter earnings reports so it can make up its mind which way to go.  Right now it’s hard to tell.  I remain heavy in Cash and slightly “hedged out” for protection.  Very few stock candidates are coming up in my scans, which confirms overall market weakness.  I’m thinking we’ll just have to wait this one out.  No need to “push a rope” and hope something good will come of it.

Have a good week.        …………..  Tom  ……………..

chart by MetaStock; used with permission


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